INDUSTRY: India tipped to be bio-IT leader, says IDC
growth of bio-IT spending within India’s life sciences industry is
set to increase at a compounded annual growth rate of 65 per cent to
touch $120 million by 2006, according to an IDC report.
report says the life sciences markets of India and Japan hold great
expects India to develop into a significant global player over the
next decade and beyond, aided by the continuing disintegration of the
blockbuster, multi-billion-dollar drugs model the world over.
a recent analysis, IDC has pointed out that India’s fledgling
biotech sector, which is expected to grow 90 per cent year-on-year
during the forecast period, the most dominant force behind the rapid
adoption of bio-IT. IDC believes India will become an ideal
center for outsourcing R&D and drug development processes.
many global branded drugs going off-patent in the next few years,
India has the capital infrastructure and the scientific capabilities
to produce vastly cheaper generic drugs that can severely undermine
branded names,” said director, Bio-IT and Life Sciences Research,
IDC Asia/Pacific, Philip Fersht.
intense demand for low-cost R&D, India’s developing skills and
infrastructure in the R&D, India’s developing skills and
infrastructure in the R&D phases of drug development are providing
an enticing proposition for global pharmaceutical companies and
investors, the report points out.
adds that India’s skills in technical computing, bio-informatics and
chem-informatics, data integration and the ability to resolve issues
surrounding unstructured data are key to the lead compound phases of
the drug discovery cycle.
has forecast that pharmaceutical companies will look to out-source
costly areas of R&D to places like India. “Once India
develops a genuine global reputation in life sciences innovation, it
will attract investor attention to develop its own intellectual
property,” Fersht said.
research and analysis is focused on the fact that the development of
bio-sciences in India will result in heavy investment in IT
infrastructure to enable biotechnology processes.
growth will be further fuelled by the increasing R&D
collaborations between Indian organisations and foreign firms, the
The report points out that growth in Japan
will largely; be driven by significant increases in both government
and private sector investment as life sciences organisations adopt new
methods to focus on informatics-based drug design.
The Times of India, Jan. 20, 2003]
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